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." >> india's main commercial city has been hit by three coordinated bombings leaving at least 21 people dead and injuring more than 100. the blast is the worst attack since the attack by islamic extremists in 2008. indian officials blamed terrorists for the explosion. >> it was the evening rush hour when the bombs went off. three of them within a quarter of an hour. all of targeted were busy locations. people on their way home from work. one eyewitness said he sought two motorbikes explode in flames and the injured screaming for help. well over 100 people were wounded in what president obama condemned as an outrageous attack. many have lost limbs. >> the blast occurred at about 6:45 p.m. we infer that this was a quarter ended attack by terrorists. >> the first bomb went off at 6:54 at this bizarre. a minute later, the opera house district was attacked. then, a crowded neighborhood at 5 minutes after seven. this is the first major attack in mumbai since 2008, more than 160 people were killed in 60 hours of terror claimed the militants based in pakistan. these latest bombs have been described
india's financial capital, and the strings go straight back to afghanistan and pakistan. that's coming up. [ male announcer ] at nissan, we test the altima's durability on a track that simulates the world's toughest roads. ♪ [ tires screeching ] ♪ if it can survive this drive... ♪ it can survive yours. the nissan altima. innovation that lasts. innovation for all. ♪ there's another way to minimize litter box odor: purina tidy cats. tidy cats premium line of litters now works harder to help neutralize odors in multiple-cat homes. and our improved formula also helps eliminate dust. so it's easier than ever to keep your house smelling just the way you want it. purina tidy cats. keep your home smelling like home. >>> well, flash point in india, tensions rising syria as well, 21 dead, 100 blood yesterday after a coordinated attack in mumbai. a mass set of confusion this hour to who's to blame. police looking into the indian mujahedeen. also a suspicion on militant grew ups that led a sewage in '08. today three blasts hit during the rush hour, just days after the seven-year anniversar
of the wrong hands. >> this is a video of india. the train was on a way to the foothills of the malaya's the engine jumped the track. the cause of the derailment is not known at this time. train accidents are common in india >>> in afghanistan today an attack killed at least eight people including one afghan official. the death toll this month alone is now 15. >> the crew of the space shuttle atlantis has stopped with the space station. these are live pictures but they are delivering 4 million lbs. of supplies. >> wheel of baseball highlights coming ups just before the all-star break >> a look outside at walnut creek we will be right back the giants added gala to their lead after the win last night. the map giants defeated the mets a 3-1. the giants moved to games and had of the arizona diamondbacks. they defeated the a's 7-6 but rangers want their 60s and our role. >> it is the ninth year in our role for breast cancer. they will walk close to 40 mi. searching for a cure you can join by going to avon oil walk docked,. >> new reports women will be less likely to find a new job than that
the coordinated bomb blasts in india's financial capital. >> ifill: political editor david chalian takes us inside president obama's record- breaking 2012 money haul. >> woodruff: paul solman reports on an ohio company that guarantees its workers jobs even during a recession. >> a vast, century old lincoln electric in the heart of the rust belt, workers average $28 an hour and yet there hasn't been a layoff here in at least 70 years. >> ifill: and we check in on how the pentagon is repealing its "don't ask, don't tell" policy starting with the acceptance of gay recruits. that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: >> i mean, where would we be without small businesses? >> we need small businesses. >> they're the ones that help drive growth. >> like electricians, mechanics, carpenters. >> they strengthen our communities. >> every year, chevron spends billions with small businesses. that goes right to the heart of local communities, providing jobs, keeping people at work. they depend on us. >> the economy depends on them. >> and we depend on them
will be filed against the driver. at it in a construction site in india. our top story around the world in 80 seconds. . >> india, rescuers pulling people out of the rubble after the building under construction collapsed. three people dead, 15 injured. officials say some people may still be trapped. no word what caused the accident. >> indonesia, this time, it was powerful enough to force the villagers to run from a central region. after being dorment for years, the volcano came back to life the past week, and one woman trying to flee from the uption,he latest blast more than a thousand feet into the air. everyone being urged to evacuate. >> israel. >> a former getting very creative with his crop. the man's crossing several breeds of watermelon to alter the fruit. he he says the melon tastes the same with and hit markets with supermarkets showing interest. china, nba star kobe bryant greeting hundreds of fans and taking a few shots on the court before answering questions during a packed news conference. the l.a. makers guard not ruling out, he says, a season overseas, if the nba lockout conti
. we live in a worldwide economy. the competition is no longer down the block. it's china, india and places like that. just listening to the discussion this morning, listening to the different points of view, you expand the different points of view, put them in a polarized poisonous, toxic atmosphere, congress, and it's governing. we can't govern ourselves. is this country ungovernable? it's the question in our minds and the minds of a lot of young people. where are we going as a nation. they go to washington and behave like clowns. that's a huge, huge problem. >> mike's point is spot on. even pat is saying we have a different philosophy on governing. when obama was elected he made promises. after that, he said he would close guantanamo bay. then he saw the information. after the elections, democrats said we would not extend the bush tax cuts, we did it. with larger deal around don't ask don't tell. i think it's important for politicians and those elected to want to govern and be bigger than the moment. remember, peter asked the most important question at the beginning, the real
property bubble. they take in this foreign investment every month when india takes in every year and still it only grows two percentage points faster than india. if you think about the quality of chinese growth it's not as impressive as it appears. massive investment. a huge number of airports, high speed rail. if you look at what you're getting out have -- of it in terms of return on investment, not as impressive. china has a huge problem. the u.n. came out with a report that pointed out that china is going to have a demographic clams over the next years. it is going to lose 400 million. there is no point in human history in which you've had a dominant power in the world that is also declining demographically. simply doesn't happen. if you want to see what a country in decline looks like look at japan and ask yourself how powerful is it? china's g.d.p. gets inflated because the cost of a haircut in beijing is less than one in toronto. but g.d.p. depends on foreign aid and oil and international investments and aircraft carriers and for all of that you need real hard currency and that adjus
, leaving a comment. heather: research for suspects going on in india right now, security forces are sifting through evidence from yesterday's triple bombing that rocked the country's financial capitol of mumbai. a top government minister says that investigators are looking into every known hostile group, but so far, no arrest. national correspondent catherine herridge is following this story from washington and has the very latest. >> reporter: this morning, indian officials say they have no claim of responsibility, they have no serious investigative leads, and also that there was no intelligence warning that the attack would take place. meanwhile u.s. officials here in washington described this attack as, quote, coordinated and bearing the hallmarks of a coughis saitd operation. they say muhajadeen is suspect but they are poorly organized and had help possibly from pakistani intelligence. >> with a dramatic attack like this obviously coordinated over three location, it took money and it took planning, and that always raises the speckter of the isi in pakistan. >> this morning, new evidence
country in the world was india. kyra, 82% of women said they just did not have any time to relax. united kingdom at number 11 and the united states number 12. in this survey they made a distinction between emerging countries and developing countries. what they found out with something like india, for example, as well as the other developing countries, is that women had to juggle work, right? their careers, as well as busy home lives. but they also had to conform to very traditional expectations and traditional standards. so they found in developing countries women had the social infrastructure to allow them to juggle the social support to do but in developing countries not the case. the least stressed out country in the world is, can you guess, kyra? >> no. tell me where! bora bora? tahiti? >> yeah. i wish we could go there. it's actually sweden. are you moving there any time soon? >> i may be doing that now. you and i will be packing our bags. it's a beautiful place, that's for sure. >> it sure is. >> zain, who never stresses us out. thank you. >>> pennsylvania restaurant owner says the
india, brazil and others. and rebalancing our efforts in the world. which is an absolutely critical thing for to us pursue. >> explain what rebalancing means. >> we looked at where the united states footprint was, where the united states face to the world was when we came into office in january 2009 and we asked ourselves where are we underweighted, overweighted, where are we not putting real work into the future. we've been acting on those conclusions. we needed to finish our military work in iraq. we're on track to doing that. by 2011, to have 150,000 troops out of iraq by the end. we saw ourselves as needing more strategic attention and focus in counterterrorism. we did that against al qaeda and associated groups. we really considered ourselves, fareed, underweighted in asia. as we looked at the world, we looked at our interests and the future, we concluded that we did not have the mind share, the diplomatic effort, the resources and presence in asia, given what we had at stake in asia. it wasn't a mistake by the way or an accident that secretary clinton took her first trip to as
and influenced china in term which influenced india which may be influencing pakistan. that same pattern may be beginning to happen in africa as we have some real success stories in other countries thinking if rwanda can do it, why can't we? >> we'll have to leave it at that. thank you very much. we will be right back. >> if i can finish now -- oh, yes, why don't you meow when i woman does that. between accoun, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. >>> canada pulled the last of the combat troops out of afghanistan this week. this brings us to our question of the week. how many nations still have combat troops in afghanistan as part of the international security assistance force? is it a, 6, b, 16, c, 26 or d 46. stay tuned and we'll tell you the correct answer. go to cnn.com/gps for ten more questions. while yo
influenced india, which may be influencing pakistan. that same pattern may be beginning to happen in africa, as we have some real success stories, and others countries say, if rwanda can do it, if ghana can do it, why can't we? >> we'll have to leave it at that. thank you very much. >>> we will be right back. woman: saving for our child's college fund was getting expensive. man: yes it was. so to save some money, we taught our 5 year old how to dunk. woman: scholarship! woman: honey go get him. anncr: there's an easier way to save. get online. go to geico.com. get a quote. 15 minutes could save you 15% or more on car insurance. >>> can a day pulled the last of its troops out of afghanistan this week. that brings us to our question of the week -- how many nations still have combat troops in afghanistan as part of the international security assist tansz force? is it 6, 16, 26 or 46? stay tuned and we'll tell you the correct answer. make sure you go to cnn.com/gps for ten more question and make sure you check out the global public square don't forget, you can also follow us on twitter and fac
deeper relationships with emerging powers like india, brazil and others and rebalancing our efforts in the world, which is absolutely critical thing for us to pursue. >> explain what rebalancing means. >> it means we looked at where the united states footprint was, what the united states face to the world was, when we came in to office in january of 2009. and we asked ourselves, where are we under or over weighted? where we are challenged in to putting real work in to the future. and we came to a set of conclusions and have been acting on those conclusions. we needed to finish the military work and we are on track to do that. to have 150,000 troops out of iraq by the end. we saw ourselves as having, needing more strategic direction, intensity and focus on the counterterrorism area and we did that in terms of intensification against allocate and a associated groups. we considered ourselves underweighted in asia. as we looked at the world and our interest and the future, we concluded that, in fact, we did not have the mind share, the diplomatic effort, the resources and presence in as
by the u.s. census bureau. using its international database, it projects india to be the most populace nation by the year 2050. take a look at this. they are expecting that india will have 1.6 billion people by 2050, that would make china number two, by the way. i'll show you what china is expected to look like. china would be number two, would be holding steady with about 1.3 billion people. where would the u.s. be? the united states, let me show you that, the united states would grow to about 423 million people by 2050. one of the biggest gains will be number four, this one i'm sure is going to surprise you, nigeria, likely to be the fourth most pew pew his country with 402 million people. look at ethiopia, caught my attention, will be, give that to you, will grow to about 278 million people. putting it into the top ten for the first time. now, those are gainers. let's look at losers. biggest loser, russia would drop from number nine right now to number 16, declining birth rates in that country, relatively low life expectancies to blame. it's just 62 years, by the way, life expectanc
train crash in india. at least 67 people were killed and more than 100 hurt. many more bodies are believed to be trapped under the twisted wreckage. the 12 passenger cars derailed in northern india. no official word on a cause but reports say the driver may have slammed on the train's emergency brakes to avoid hitting cattle on the tracks. >> a deadly roller coaster ride may lead to new legislation over theme park safety. investigators are looking at why an iraq war vet who lost both of his legs to a roadside bomb was allowed on a 200 foot ride that led to his death. sergeant james hackermer was thrown from the ride of steel at the darren lakes theme park in new york. now one lawmaker is introducing legislation for more federal authority over theme park safety. there were no rules saying that people who did not have legs could ride that ride. but his family is not blaming the park. >> horrible. under arrest for allegedly trashing the theater where late night host david letterman tapes his show. look at the damage this idiot did to the ed sullivan theater in new york. glass do
are closing in the eradication of older. and he pointed out there are four countries, nigeria, india, pakistan and afghanistan, and the last year for which there is data, of course 2010. and he says it has decreased in nigeria, india and afghanistan, and afghanistan it. they have -- [inaudible] but it increased from 60 some the 144 from 2005-2010. he didn't give reasons our hypotheses why this might be so. let it seems to indicate that there are parts of the country that just are too restless or not under the control of the vaccinations. do you have some insight on that? >> those are absolute numbers. 167, again, besides the population has to be borne in mind. of the four countries you mention, the fastest population growth has been pakistan. and so, therefore, we have more infants that require the polio vaccination. we have a national program for polio eradication. when prime minister took over in 1993, for the second term, it was one of our first priorities and we got it down instantly. right now in the last or years or so, the numbers have spiked a little bit. and they have primarily been i
%. this inequality thrives. the nation does not reflect the population. india and china may be quickly developing, but how many millions of people live in poverty rob big business profits. in the united states tax cuts were given to the richest 2 percent of the country at a time when the government needed nothing more than tax revenue in order to support programs that benefit the economically disadvantaged. class division is an important topic of the economic problems. companies like for the cheapest labor that they can get wherever they can get it. april poor working conditions, long hours, and limited or no benefit. look at american companies. yin's in most industries if there is a union at all of losing power, securing effort -- your improvements to workers' conditions and pay. in some companies illegal immigrants make up much of the workforce, ensuring even less bargaining power for those employees. the biggest tactic used by american and other internationally based companies today is to shift production overseas to less developed and less regulated countries with the bigger workforce such as
in new world. it is obvious a lot of cheap products come from abroad whether it is china or india or other places with low-cost labor. the focus on the u.s., it is widely agreed it needs to be on producing skilled workers who need to be able to beat out from around the world. on the repatriation tax holiday issue, the u.s. companies that have expanded overseas now have a lot of money in their overseas accounts. they have made the case to have a tax holiday to bring it back to the u.s. and invest the in u.s. jobs. it is gaining some traction as an idea. one concern is that u.s. companies have quite a bit of cash on their balance sheets at home. they are not using got to go out and create new jobs as much as they could. part of it is they do not see the demand. consumers are not spending as much as they would need to support something like that. there's a lot of cash and use right now. host: what is the rate they are taxed at? guest: the highest tax rates are around 35%. there is discussion of bringing them closer to 25%. the problem is tax rates are spread out so broadly among diff
for. sending jobs to china and india. job say let's protect creators, but there are no jobs. they just keep selling us out and selling us out. host: there is of the work on twitter -- a couple of stories talking about the financial implications of what's going on right now in washington. and a similar story -- let's hear from virginia beach on our independent line, don. caller: good morning. i would like to speak on the last gentleman's comments. i don't understand why people just don't see a the whole system is broken. our political system is broken. all of these congressmen, democrats and republicans, have too many special interests. the lobbyists are the problem. host: you are echoing comments made by -- caller: they talk about our political system in this country as a sham. host: i think we lost him. let's go to a democratic caller in new hampshire, ron. our focus is the balanced budget amendment. is it necessary? caller: i don't believe it is. a matter what kind of numbers you put up there, if we need the money, we're going to print some more. to echo the last couple previous call
. india is adding 18 million cellphones a month. they are now part of this flat world. i have spent a lot of time following the middle east. we have connected detroit and damascus. now we have connected detroit, damascus, and dara. it is a dusty desert town on the syrian-jordanian border where the revolution began. syria has banned every international news organization. bbc, cnn, fox, "new york times," and al jazeera. yet every night, you have been seeing news footage coming out of dra. if you look at the bottom of your screen, it says is from smn. sham news network. sham is arabic for syria. i would bet the governors in their wallets right now have enough money in their wallets to start sham news network. they have been pumping out video and flip camera footage from dara through sham news network. that is half what the world has become. on october 30, 2010, an indian newspaper ran a small item. i happened to be there at a time. it caught my eye. it said a communications firm had just started had3g service at the summit of mount everest. it will allow thousands of climbers to access highs
connecting boston, bangalore, and another city. india is adding 18 million cellphones a month. they are now part of this flat world. i have spent a lot of time following the middle east. we have connected detroit and damascus. now we have connected detroit, damascus, and dara. it is a dusty desert town on the syrian-jordanian border where the revolution began. syria has banned every international news organization. bbc, cnn, fox, "new york times," and al jazeera. yet every night, you have been seeing news footage coming out of dra. if you look at the bottom of your screen, it says is from smn. sham news network. sham is arabic for syria. i would bet the governors in their wallets right now have enough money in their wallets to start sham news network. they have been pumping out video and flip camera footage from dara through sham news network. that is half what the world has become. on october 30, 2010, an indian newspaper ran a small item. i happened to be there at a time. it caught my eye. it said a communications firm had just started had3g service at the summit of mount everest. it will
. that will take secretary clinton to greece, then to india, indonesia, and china over the next 12 days. >>> the president is pushing the pause button on the debt debate. just 19 days remain until the u.s. hits the debt ceiling and triggers at least a partial default. president obama scheduled the address -- is scheduled to address the nation at 11:00 a.m. eastern and we'll cover that live. >> no negotiations planned today after five meetings in five days leaders have been told to talk to their colleagues and figure out how to move the process forward. the president is prepared to reconvene the debt talks on saturday. >>> while nobody is sounding very optimistic about a deal, there is a possible compromise in the works. >> the senate's two top leaders, democrat harry reid and republican mitch mcconnell are working on a fallback plan, the compromised deal that would give the president enhanced authority to raise the debt limit with procedures attached that could lead to spending cuts. >> we don't have it worked out yet, but it's something that we're looking to. hopefully we can come up w
it is obvious that a lot of cheap products come from abroad, whether china or india or any number of other places that have low-cost labor. it is obvious a lot of cheap oducts come from abroad whether it is china orndia or other places with low-cost labor. the focus on the u.s., it is widely agreed it needs to be on producing skilled workers who need to be able to beat out from around the world. on the repatriation tax holiday issue, the u.s. companies that have expanded overseas now have a lot of money in their overseas accounts. they have made the case to have a tax holiday to bring it back to the u.s. and invest the in u.s. jobs. is gaining some traction as an idea. one concern is that u.s. companies have quite a bit of cash on their balance sheets at home. they are not using got to go out and create new jobs as much as they could. part of it is they do not see the demand. consumers are not spending as much as they would need to suort something like that. there's a lot of cash and use right now. host: what is theate they are taxed at? guest: the highest tax rates are around 35%. there i
differences. regional differences in pakistan. plus, this overwhelming obsession with india. so, pakistan is in trouble largely, not entirely, but largely because of its own position. >> dr. brzezinski, good morning, it's willie. i want to turn to china if we could. the problems we have are well documents. their economy will surpass the united states by 2016. there's a report in the new york times that reports in the seven years it will take new york city to build the second avenue subway line, china will have built an entire subway system. we know about the problems. we hear about it all the time. why is that? we have the workers. we have the resources. why is it that we can't keep pace? is it our political system that slows it down? >> i think the political system is in a gridlock. it's a fact. a comprehensive study. it shows congressional seats how it's overwhelming percentage of safe seats so congressman come back, come back, come back. they are entrenched. they don't have incentive to change, to move on with the times, to compromise. we have a large public that is ignorant about worl
they are in the range of 2.5, whereas merging markets are more in the range of 6.5, some of them such as india and china getting higher marks, so we are facing a turnaround which is very uneven with country's leading the charge and not those that were historic leading the charge and others advanced economies that are lagging behind in a way given the status of development. in the midst of that, we have clearly the two categories different issues to address but if we are to provide service and guidance, advice and recommendations and if and when necessary and if asked support. those are on the one hand the issues of sovereign debt and concerns all advanced economies ranging from japan to the united states, but clearly with a focus as you write about it as we know with a focus on the year autozone and in particular a country such as greece. on the other hand, when we look at emerging markets we have in some corners the risk of overheating, and we obviously have the risk of inflation as well, and sometimes particularly in the low-income countries the risk of imported completion that results from a high pri
produced in india. all the illustrations were electronically created in thailand. and all the books were printed overseas. and the client that in these books were for work four american taxpayers children who go to school every day -- kindergarten through the sixth grade -- for american taxpayers's children go to school. the congress and the senate and they get up there and are so pompous about everything. they outsource all of these american jobs. it is disgraceful what they have done to this country. host: trade agreements are on the table this week in discussion on capitol hill with the house smoke ways and means committee taking a look at three agreements for south korea, colombia, and panama. this is "the wall street journal" this morning with a piece about a program attached to the free trade agreement -- trade assistance administration program. it says -- the story continues inside "the wall street journal." elizabeth williamson reports about how much this costs. we will go to mary who has a job in houston, texas. your thoughts. caller: first of all, where does the president think
deadly they can be, the worst incident took place in november of 1996, over the skies of india, a saudi 747 hit a cargo plane, and 349 people lost their lives. again, miraculously, this crash, no one injured. heather. heather: david lee miller, thank you very much. bill: buy a lottery ticket after that one, don't you. >>> fox news alert, republicans seem to be changing their tune slightly and directing it right at president obama. we just heard from the house speaker john boehner moments ago, saying that the debt limit is his problem, a rather stark statement. also on the senate side, mitch mcconnell said that after years of discussions and months of negotiations, i have little question that as long as this president is in the oval office, a real solution is probably unattainable. now, we're working on both statements, and we'll bring that to you in a moment. first, though, we have the speaker boehner comment from a moment ago. if we have that in a moment, we'll play that in a moment. in the meantime, kirsten powers, rich lowry, rich is editor of the national review and kirsten is a new
midair collision took place in november of 1996 in india when a saudi 747 hit a cargo plane killing 349 people. what happened sunday afternoon in alaska, greg is also one for the record books, again incredibly nobody was hurt. greg: astonishing. david lee miller, david thank you. patti ann: america's new so-called super citizens have more rights than the rest of us. we'll tell you how the children of diplomats from other countries are being granted full u.s. citizenship, plus diplomatic immunity. also some shocking secret jailhouse video showing casey anthony's reaction when she learns her daughter's caylee's body has been found. will the public finally get to see it? let's go right now to julie banderas at the.com wall. you're tracking the choices for the must-see moment of the day. >> reporter: that's right the hot tape and we've got three of them. you get to decide which one of the stories you want to to learn more about it. let's take a look at the wall and we will he'll show you on foxnews.com. we have a toddler who tell ten stories finally waking out of a coma. we'll tell but that
china, india, other economic rivals. >> we're rebuilding those countries when our airports are dated and roads are crumbling and bridges are in need of repair. you're in this country. >> just the conversation. >> china can build hundreds and hundreds of miles of high speed rail, we can't build a line from tampa to orlando? i'm telling you, our infrastructure is crumbling, our schools, our education system, k through 12 not improving the way it needs to improve. you want to talk about security. >> right. >> our battle is not going to deal with missiles and jets over the next century, it's keeping up with china. >> we'll talk about this much more tomorrow with former national security adviser dr. b brzezinski. [ barks ] ♪ [ cat meows ] ♪ [ whistles ] ♪ [ cat meows ] ♪ [ ting! ] [ male announcer ] travelers can help you protect the things you care about and save money with multi-policy discounts. are you getting the coverage you need and the discounts you deserve? for an agent or quote, call 800-my-coverage or visit travelers.com. >> ( rooster crows ) >> by 2020, 50 billion netw
or will the leadership pass to china or india or to some other place? this is the great issue confronting the people of the united states, and it's the great issue confronting us here in congress as well. let's get our fiscal house in order. thank you, mr. speaker, and i yield back the balance of my time. the speaker pro tempore: the gentleman from new jersey yields back the balance of his time. the chair recognizes the gentleman from illinois, mr. quigley, for five minutes. mr. quigley: thank you, mr. speaker. mr. speaker, an american president once wrote a letter to the senate majority leader urging him to raise the debt ceiling. the president wrote, "the consequences of a serious prospect of default for the united states is impossible to predict and awesome to contemplate. denegation of the full credit of the united states would have substantial impact on the domestic financial markets and on the value of the dollar in exchange markets." that president's name was ronald reagan and the year was 1983. he closes under the senate majority leader howard baker saying, the risks, the costs, the incalcul
of the constitution that will result to the states india, she should be able to make that claim, and so we told the supreme court take this case even though we lost, so they took the case and in the appointed a private lawyer to argue with the government would have argued in terms of her not having a legal standing, the right to bring the case and then after hearing the oral arguments they wrote an opinion that said that that private lawyer wasn't right for their service, vice versa, but at the end of the day after hearing the argument. >> think about the prosecutor in the perry mason series that he confessed error. there would be no novels, no nothing. [laughter] >> sometimes the courts and the car in the tory area and follow the latter in the supreme court issued but not the spirit, and one of my favorites was in the plaintiffs' court in texas they have some good places to make a living and the court had said the highlight line for punitive damage is $9 of the punitive for every 1 dollar a factual or compensatory damages. so a person who never earned more than maybe a thousand dollars a year
are more in the range of 6.5%, some of them, such as india and china, hitting much higher marks. we are facing a turnaround which is very uneven, with countries leading the charge and not those that were historically leading the charge, and others, advanced economies that are lagging behind in a way, given their status of development. in the midst of that, we have clearly in each of those two categories different issues to address, and where clearly the fund can provide service, can provide guidance, can provide advice and recommendations, and if and when necessary, and if asked, obviously support. those two categories are, on the one hand, the issues of sovereign debt. and that concerns all advanced economies, ranging from japan to the united states, but clearly with a focus, as you write about it, as we know, with a focus on the euro zone and in particular on countries such as greece. on the other hand, when we look at the emerging markets, we have in some corners the risk of overheating, and we obviously have the risk of inflation as well. and sometimes, particularly in the low-i
of those tax cuts in china or in india or job creation in many other places other than here. and the balance part of this amendment requires the passage of a balanced budget constitutional amendment that would require a supermajority to raise any new revenue or close any wasteful tax loopholes. so in other words, you don't have to have a supermajority to decide where and what you're going to wind up spending but you have to have a supermajority in order to raise any revenue or close an egregious tax loophole. one that may have no economic purpose, may be completely outdated, may be a sweetheart deal that got into the tax code over o the course of the years, but you still have to get a supermajority to get rid of that. everybody here knows how hard it is to get 60 votes. a lot of the business in the united states senate has been caught up by the eternal filibuster. every single nomination, every single small piece of legislation that comes to the floor of the senate, everything requires a motion to proceed which requires 60 votes, which is effectively a filibuster each time.
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